Grease and flour a loaf pan. Cream the butter (or margarine) and
sugar together in a large mixing bowl. Beat in the eggs with an
electric mixer. Stir in the cranberries, water, and vanilla. Sift
the flour, baking soda, baking powder, salt, and cinnamon together
and stir in with the batter. Add the chopped walnuts to the mixture
and pour in the loaf pan. Bake at 350 degrees for 55 minutes. Test
with a toothpick.